Abstract: TenNor Therapeutics, a China-based biotech, launched its IPO to raise at least USD 80 million via a Hong Kong listing. In this note, we look at the deal terms and provide our valuation thoughts for the company. We summarize the dynamics for the deal and would not participate.
About ECM & IPO Research
Research on Hong Kong and A+H equity offerings, from the first filing to the aftermarket. Coverage includes pre-IPO early thoughts on the business and valuation, analysis of the final deal terms and cornerstone investors, and updates as new prospectus versions are filed.
